The following article by Damian Paletta was posted on the Washington Post website August 25, 2017:
Jackson Hole, Wyo. — Federal Reserve Chairwoman Janet L. Yellen offered a forceful defense of broad new banking regulations enacted after the 2008 financial crisis, saying the rules safeguard the economy against another crisis and rejecting assertions from President Trump and top aides that they should be rolled back.
Yellen’s speech, delivered here to an annual gathering of central bankers, finance ministers and economists, comes as Trump considers whether to reappoint her to a four-year term as head of the U.S. central bank.
Yellen, 71, made clear in her speech on Friday that she believes tighter regulations and standards have made the banking system safer and that while some improvements could be made, they should be modest, not structural. Continue reading “Yellen rejects Trump approach to Wall Street regulation, says post-crisis banking rules make economy safer”